Panoro Energy announced that the Guebiba 10 sidetrack well located in the Guebiba oilfield in Tunisia and part of the Thyna Production Services concession has been successfully drilled and completed.
bp announced the start of gas production from its latest development offshore Egypt, the Qattameya gas field in the North Damietta offshore concession.
Dana Gas announced it has entered into a binding agreement with IPR Wastani Petroleum, a member of the IPR Energy Group (IPR) for the sale of its onshore Egyptian producing oil and gas assets for a consideration of up to $236 million.
Siemens Energy inaugurated a service center and a training academy in Egypt which combines a repair center, a tooling center and a spare-parts warehouse under one roof.
Egypt's exports of crops hit 1.67 billion dollars in eight months, Jan-Aug 2020, according to the Ministry of Trade and Industry.
Egyptian last-mile delivery startup dreevo launches operations with pre-seed funding from EF Logistics
Egyptian last-mile delivery focused startup dreevo raised a six figure US dollar in a bootstrap, pre-seed funding round from EF Logistics, a third party logistic services provider, to introduce agile and affordable technological solutions.
The Central Bank of Egypt has announced setting up EgyCash company for technological solutions of monetary dealing.
IFC announced an investment in an Egyptian private equity fund to help improve access to capital for small- and medium-sized companies in the country, supporting their resilience, growth, and ability to create jobs.
The United States, through the USAID and Egypt’s Ministry of International Cooperation signed an agreement to add $22.8 million to the five-year Inclusive Economic Governance bilateral assistance agreement.
The Russian Direct Investment Fund (RDIF) and Pharco, a pharmaceutical group in Egypt have agreed to secure the supply of 25 million doses of the Sputnik V vaccine to Egypt.
Mondia, a technology company which specialises in marketing and distribution of digital content and Jumia, Africa’s largest e-commerce platform, launched Jumia Games, a competitively priced entertainment category on the JumiaPay App.
The European Investment Bank (EIB) signed a commitment of $22 million with LCP FUND II COÖPERATIEF U.A., a generalist private equity fund targeting primarily growth capital investments in SMEs and mid-market companies in Egypt.
The European Bank for Reconstruction and Development (EBRD) is boosting the resilience of the financial sector in Egypt and supporting equity financing to small and medium-sized businesses by investing up to $50 million in LCP Fund II.
Egypt has signed $934 million across eight exploration and research agreements, following a push to attract new entrants to develop its burgeoning gas market.
World Bank supports improvement of air quality, fight against climate change in Greater Cairo, Egypt
The World Bank approved a $200 million project to support Egypt’s initiatives to reduce air and climate pollution from critical sectors and to increase resilience to air pollution in Greater Cairo.
The UK Department for International Trade (DIT) and Egyptian British Chamber of Commerce (EBCC) organised first retail webinar to explore retail and e-commerce opportunities for British companies in the Egyptian market.
In an attempt to diversify its debt portfolio, Egypt Finance Ministry is getting ready to issue the country's first sovereign green bonds in the Middle East and North Africa (MENA) region.
Fitch Ratings has affirmed National Bank of Egypt's (NBE) Long-Term Issuer Default Rating (IDR) at B+ with a Stable Outlook; it has also affirmed NBE's Viability Rating (VR) at b+ and removed it from Rating Watch Negative (RWN).
Orange Egypt signed a cooperation agreement with Elsewedy Technical Academy to provide students with a set of educational scholarships, integrated educational and training program over a 3-year period.
The Egyptian Ministry of Petroleum and Mineral Resources has hosted the signing ceremony of the statute of East Mediterranean Gas Forum (EMGF), establishing it as a regional intergovernmental organization, based in Cairo.
The U.S. Department of Energy’s National Nuclear Security Administration (NNSA) is allocating $1 million in funding to the International Atomic Energy Agency (IAEA) to help Egypt enhance radiation therapy for cancer patients.
CTI Clinical Trial and Consulting Services (CTI) has announced the acquisition of Clinart, a full-service CRO with nearly 20 years of experience and strong local expertise in the (MENA) region.
The U.S. administration has decided on a plan that entails the suspension of financial assistance for Ethiopia due to the country’s dispute with Egypt and Sudan over the Grand Ethiopian Renaissance Dam project.
Eni and British gas company BP have announced a new gas discovery in the "Great Nooros Area", located in the Abu Madi West Development Lease, in the conventional waters of the Nile Delta, offshore Egypt.
Egypt's EnviroTaqa for Sustainable Environmental Services & Renewable Energy signed a partnership and alliance contract with Swiss company Renergon International AG, for the development of biogas projects in Egypt.
The U.S. government, through the USAID and Chipsy for Food Industries, a PepsiCo Egypt company, renewed a partnership that boosts the productivity of farmers and builds a more transparent and sustainable potato supply chain.
Egyptian luxury bedding supplier Pure Parima, will be adding brand new sheet colors called Spa and Linen to its Yalda and Ariane product lines.
In a new move aimed at improving the resilience of Egypt’s power transmission network, Siemens Energy has been selected by the Egyptian Electricity Transmission Company (EETC) to connect Bashaer El Khair City project in Alexandria.
Egyptian Ministry of Education and Technical Education has signed a cooperation protocol with Orange Egypt to provide hosting services and provide the cloud infrastructure necessary to operate and manage a digital platform for e-lessons.
Global credit rating agency AM Best has affirmed the Financial Strength Rating of B++, Good, and the Long-Term Issuer Credit Rating of “bbb+” of gig Insurance - Egypt S.A.E.
Egypt’s Finance Ministry has signed the first Islamic conventional financing which aims at supporting Egypt's public budget and economy.
EgyptAir and Air Cairo have initialised their first step of cooperation through signing a codeshare agreement extending both airlines’ networks to further destinations domestically and beyond Cairo Airport.
Orange Egypt, Misr El Kheir Foundation partner to provide hospitals with FDA approved COVID-19 testing kits
Orange Egypt signed a new cooperation protocol with Misr El Kheir Foundation and Prime Speed Medical to provide hospitals with FDA approved rapid test kits to diagnose COVID-19 infected cases.
Banque Misr has signed a cooperation protocol with the Egyptian Company for Metro Management and Operation to deploy ATM machines at all subway stations.
Africa Data Centres and Benya Cables have entered into a strategic supply agreement to secure continuous sourcing of critical fiber optic technology and equipment to continue building Africa’s digital future.
The Egyptian Electricity Transmission Company (EETC) has decided to cancel a recently launched tender for the construction of a 200 MW solar PV project in the West Nile region of Egypt.
DeepTech Oil Services announced the successful completion of a break through intervention project delivered in the Zohr gas field in the Egyptian sector of the Mediterranean Sea for Eni and the EGPC.
In support of Egypt’s Ministry of Social Solidarity, the WFP has started providing financial assistance for mothers registered under the Ministry’s ‘Takaful and Karama’ programme and their children under 2 years to prevent malnutrition.
Siemens Energy has signed a long-term preventive maintenance contract with the Egyptian Ethylene and Derivatives Company (ETHYDCO), for its industrial complex in Alexandria, Egypt.
Kaspersky analysis has revealed that phishing attacks are becoming increasingly more targeted. A number of new tricks have also been found - from HR dismissal emails to attacks disguised as delivery notifications.
TGS announced it has commenced its first-ever regional airborne Enhanced Full Tensor Gravity Gradiometry (eFTG) multi-client survey together with magnetic and Lidar data in Egypt.
Clarivate P, a global provider of information and insights has launched the Arabic Citation Index™ (ARCI), the world's first local language citation index for the Arabic world in Egypt.
The Ministry of Planning has applied a new electronic system, the first in Egypt to assess government performance.
CDC Group, the UK’s impact investor and development finance institution has established its permanent presence in Egypt with the appointment of Sherine Shohdy as its new Coverage Director.
The EBRD is supporting the real economy in Egypt with a $200 million financing package to Banque Misr for trade and for on-lending to small and medium-sized enterprises (SMEs) and private businesses.
African Infrastructure Investment Managers (AIIM), a member of Old Mutual Alternative Investments and Africa’s most experienced infrastructure manager, has appointed two joint-managing directors.
Eni, bp and Total have successfully tested the well drilled on the prospect called Bashrush, in the North El Hammad concession, in the conventional Egyptian waters of the Nile Delta.
Eni has announced the successful drilling of the SWM-A-6X well, in the South West Meleiha development and exploration concession located in the Egyptian Western Desert, 130 km North of the of Siwa Oasis.
Qatar Airways Group, owner and operator of Qatar Airways has launched four international investment arbitrations against the Arab Republic of Egypt, United Arab Emirates, Bahrain and the Kingdom of Saudi Arabia.
IFC is launching a new advisory program to improve women employment opportunities in Egypt, by highlighting how private sector companies can tap into the country’s large, underutilized female talent pool and spur economic growth.
Chevron Corporation has entered into a definitive agreement with Noble Energy to acquire all of the outstanding shares of Noble Energy in an all-stock transaction valued at $5 billion, or $10.38 per share.
DB Schenker has invested in the construction and operation of Egypt’s first dry port, in association with the partners 3A International and Elsewedy. It is expected to open in 2022.
The European Bank for Reconstruction and Development (EBRD) is supporting Egypt’s New Urban Communities Authority in its plans to diversify funding sources by tapping the debt capital market with an investment of €86.5 million.
The World Bank responded to dual economic shocks caused by the COVID-19 pandemic and the subsequent collapse in oil prices with strong lending, technical assistance and global expertise throughout the Middle East and North Africa.
To meet its soaring demand for energy, Egypt is turning to renewable sources. Its targets, if accomplished, will see it become a pioneer in the African energy landscape. But are the plans realistic?
Afreximbank disburses $3.55bn to cushion impact of COVID-19, $300m to stimulate intra-African trade in Egypt
The African Export-Import Bank (Afreximbank) has disbursed a total of $3.55 billion to the Egyptian Banking sector under its Pandemic Trade Impact Mitigation Facility (PATIMFA).
The European Investment Bank (EIB) approved € 16.6 billion of new financing for projects across Europe and around the world, including more than € 10 billion of COVID-19-related investment to improve public health.
IFC is joining forces with the National Bank of Egypt and MSMEDA to strengthen the clean technology entrepreneurship sector and boost Egyptian farmers’ access to finance for solar irrigation.
Orange Egypt, provider of integrated telecommunications services has been ranked the first in the speed of data services for almost a year since the inception of issuing the NTRA’s monthly report on the quality of communications network services.
The OPEC Fund for International Development (the OPEC Fund) signed a $95 million loan agreement with Egypt to help create thousands of job opportunities and boost self-employment in the North African country.
TechnipFMC has signed a major Engineering, Procurement, and Construction contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt.
The European Bank for Reconstruction and Development (EBRD) and the European Union (EU) are stepping up their support for green investments and climate resilience in Egypt, Morocco.
Orange Egypt has announced its cooperation with TABIBI clinics to avail the necessary health support to Orange customers.
IFC announced a loan of up to $100 million to Commercial International Bank (CIB), Egypt’s largest private bank, to help the bank increase support to clients and companies whose cash flows have been disrupted by the COVID-19 pandemic.
IFC, IFU and PROPARCO are providing an equity financing package of up to $108.5 million to Humania, a private healthcare company, to help improve medical care in Egypt and Morocco.
Eni, BP and Total have successfully drilled the first exploration well in the North El Hammad license, in the conventional Egyptian waters of the Nile Delta, on the prospect called Bashrush.
The European Bank for Reconstruction and Development (EBRD) and the United Nations World Tourism Organisation (UNWTO) are joining forces to boost the recovery of the tourism sector across the 38 economies where the Bank invests.
The European Bank for Reconstruction and Development (EBRD) is reinforcing its support for the Egyptian economy with $100 million loan to Commercial International Bank (CIB), a longstanding partner bank of the EBRD.
The European Bank for Reconstruction and Development (EBRD) is supporting the Egyptian Economy with $200 million financing package to National Bank of Egypt (NBE) for trade and for on-lending to local companies.
IFC is investing up to $10 million in a local Egyptian company to help it expand installation of digital prepaid and smart electricity meters in Egyptian homes.
The Board of Directors of the African Development Bank has approved a 225 million euros loan to finance Egypt's Electricity and Green Growth Support Program
The United Oil & Gas reports that the El Salmiyah-5 development well on the Abu Sennan concession in Egypt early analysis of logging and testing suggests that the Well significantly exceeds pre - drill estimates.
The European Bank for Reconstruction and Development (EBRD) is providing loans for up to US$ 100 million to National Bank of Kuwait Egypt (NBKE) for on-lending to private businesses in Egypt.
Telecoming, a global company in the development of digital services monetization technologies, has entered the Egypt market to promote digital entertainment.
Recently, Svitzer took an important step towards strengthening its presence in Africa by signing a five-year contract with Nacala Logistics in Mozambique for harbour towage, occasional pilot transfer and potential salvage work in the port of Nacala.
The African Development Bank (AfDB) approved a $500,000 emergency assistance grant to Egypt to provide food relief, and to contribute to restoring the livelihoods of vulnerable populations severely affected by COVID 19.
Asia-Africa-Europe-1 Consortium deploys Infinera to double capacity on intercontinental cable system
Infinera announced that Asia-Africa-Europe-1 Consortium (AAE-1) has completed a significant upgrade with Infinera to boost capacity on its subsea network connecting East Asia to Europe via Egypt.
BP announced the appointment of Karim Alaa as the incoming Senior Vice President for North Africa, effective 1 July 2020, following the retirement of Hesham Mekawi.
Orange Egypt announced its contribution to maintain and repair medical ventilators as part of the “Breathe” campaign in cooperation with the Egyptian Cure Bank and under the supervision of the Ministry of Health.
PSW Group announces its capping stack division has completed its first international operation for a deepwater well offshore Egypt.
The European Investment Bank (EIB) has signed a financing agreement of $100 million with Banque du Caire (BDC) to finance the investments of Egyptian small and medium enterprises (SMEs) in the manufacturing and services sectors.
Egypt’s economy will slow sharply this year because of the impact of the coronavirus, but will avoid a recession, according to the latest forecast by the EBRD.
The European Bank for Reconstruction and Development (EBRD) is rolling out a programme in response to the economic impact of the coronavirus pandemic in Egypt, with a financial package for QNB ALAHLI.
EgyptAir and Air Cairo have signed a Memorandum of Understanding (MoU) to enhance strategic positioning, network and fleets that will add new customers to both airlines.
Neptune Energy announced the successful completion of an ocean bottom nodes (OBN) multiclient survey in the North West El Amal block, offshore Egypt, delivering promising results for further analysis.
The International Islamic Trade Finance Corporation (ITFC) has signed a $100 million financing agreement with Egypt’s GASC to cover the government’s essential strategic commodity needs.
BP, a multinational oil and gas company announced that Hesham Mekawi, Regional President, North Africa, has decided to retire.
SDX Energy announced the successful flow rate test at Sobhi discovery well in the South Disouq Exploration Permit onshore Nile Delta, Egypt.
The Central Bank of Kenya announced the acquisition of 51 percent of the shareholding of Mayfair Bank by Commercial International Bank (Egypt) S.A.E (CIB) effective May 1, 2020.
SDX Energy announced the discovery of gas at its SD-12X well in the South Disouq Concession, Egypt.
Novosibirsk Chemical Concentrates Plant, an enterprise of ROSATOM’s TVEL Fuel and the Egyptian Atomic Energy Authority have signed 10-years term contract for supply of low-enriched nuclear fuel components.
Energy Recovery announced awards of USD $8.3M to supply its PX and related equipment and services to multiple desalination projects in Egypt.
NetDragon Websoft Holdings Limited has announced that Edmodo, its global online education platform has been selected by the Ministry of Education in Egypt to be the designated online learning platform.
The Multilateral Investment Guarantee Agency (MIGA) has issued guarantees to support the operation and maintenance of six additional solar power plants at the Benban Solar Park in the Aswan Governorate in Upper Egypt.
Credit Agricole Egypt has extended its digital user experience and launched the third digital channel “desktop channel”.
The World Bank has announced additional financing of US$500 million to support ongoing efforts to improve the affordability of formal housing for low-income households in Egypt.
The United Nations Volunteer Programme (UNV) and COMESA Secretariat have revived the partnership to operationalize the Youth Internship and Volunteer Project.
Cairo-based fresh bread and groceries delivery startup Breadfast has raised a seven-figure bridge funding round as it prepares for its Series B.
IrisGuard UK Ltd has announced the deployment of its revolutionary EyePay® Cash mobile platform enabling refugees in Egypt to receive their financial aid assistance via iris identification.
Fiorano Software has announced that Crédit Agricole, Egypt has implemented the Fiorano Hybrid Integration Platform (HIP) to reduce time and cost required for integrating applications.